Smart Medical Device Market Report: Trends, Forecast and Competitive Analysis to 2030

Smart Medical Device Trends and Forecast

The future of the global smart medical device market looks promising with opportunities in the blood glucose monitoring and cardiovascular applications. The global smart medical device market is expected to reach an estimated $10.2 billion by 2030 with a CAGR of 6.2% from 2024 to 2030. The major drivers for this market are growing demand for wireless and smartphone-compatible medical equipment and increasing cases of chronic diseases.

A more than 150-page report is developed to help in your business decisions.

Smart Medical Device by Segment

The study includes a forecast for the global smart medical device by product type, distribution channel, application, and region.

Smart Medical Device Market by Product Type [Shipment Analysis by Value from 2018 to 2030]:

• Diagnostic and Monitoring Devices
• Therapeutic Devices

Smart Medical Device Market by Distribution Channel [Shipment Analysis by Value from 2018 to 2030]:

• Pharmacies
• Online
• Others

Smart Medical Device Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Blood Glucose Monitoring
• Cardiovascular
• Others

Smart Medical Device Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Smart Medical Device Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies smart medical device companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the smart medical device companies profiled in this report include-

• Fitbit
• Biotronik
• Sonova
• Apple
• Novo Nordisk

Smart Medical Device Market Insights

Lucintel forecasts that diagnostic & monitoring device is expected to witness the higher growth over the forecast period.

Within this market, cardiovascular is expected to witness the higher growth due to rising cases of cardiovascular disease like diabetes.

North America is expected to witness highest growth over the forecast period due to existence of robust medical infrastructure, availability of supportive expenditure policies in healthcare system, and presence of key players in the region.

Features of the Global Smart Medical Device Market

Market Size Estimates: Smart medical device market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Smart medical device market size by product type, distribution channel, application, and region in terms of value ($B).

Regional Analysis: Smart medical device market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different product types, distribution channels, applications, and regions for the smart medical device market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the smart medical device market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the smart medical device market size?

Answer: The global smart medical device market is expected to reach an estimated $10.2 billion by 2030.

Q2. What is the growth forecast for smart medical device market?

Answer: The global smart medical device market is expected to grow with a CAGR of 6.2% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the smart medical device market?

Answer: The major drivers for this market are growing demand for wireless and smartphone-compatible medical equipment and increasing cases of chronic diseases.

Q4. What are the major segments for smart medical device market?

Answer: The future of the smart medical device market looks promising with opportunities in the blood glucose monitoring and cardiovascular applications.

Q5. Who are the key smart medical device market companies?

Answer: Some of the key smart medical device companies are as follows:

• Fitbit
• Biotronik
• Sonova
• Apple
• Novo Nordisk

Q6. Which smart medical device market segment will be the largest in future?

Answer: Lucintel forecasts that diagnostic & monitoring device is expected to witness the higher growth over the forecast period.

Q7. In smart medical device market, which region is expected to be the largest in next 5 years?

Answer: North America is expected to witness highest growth over the forecast period due to existence of robust medical infrastructure, availability of supportive expenditure policies in healthcare system, and presence of key players in the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the smart medical device market by product type (diagnostic and monitoring devices and therapeutic devices), distribution channel (pharmacies, online, and others), application (blood glucose monitoring, cardiovascular, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?